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If you are the co-buyer and you are the one making the payments can the buyer take your auto away?
Wiki User
∙ 18y ago
Cosigning for ANYONE is one big mistake. If the person you cosign for is not making the payments then the person that cosigned is responsible for all payments. I have no idea why anyone would want to do this. Unless there were stipulations in the contract you signed with the buyer, then no, they can't just up and sell the car. Take another look at your contract. Marcy
Wiki User
∙ 18y ago
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Who is responsible for the auto loan buyer or cobuyer?
If the buyer does not pay the loan, then the lender comes after the co-signer. Late payments affect both credit reports. Most recommendations are not to co-sign a loan.
Your ex has filed bankruptcy and you are a cobuyer on the auto loan what will happen now?
You will be responsible for the loan payments
Does a co buyer have rights to the auto loan payments?
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
Can a buyer remove a co-buyer from auto loan?
Well, it depends how the title was written. if it says buyer "or" cobuyer you dont need the other persons signature for anything .... if its written with "and" between your two names, u will have to have both people present to complete any removals or transfers. That or you can have the cobuyer sell u the car. They will still need to be present though.
Should I keep making payments in a VW diesel car?
If you keep on missing payments on your auto loan, there is a high chance that the vehicle may be repossessed by the bank.
Is there a good Vehicle loan calculator?
Auto finance and car loan tips to help making car buying easier. Cars.com's auto loan calculator estimates your monthly payments, down payments, interest rate.
Do you receive notification before auto repossession?
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
Can a primary buyer have a co buyer removed from an auto loan if the co buyer was never needed to get the loan?
That will be up to the LENDER.
Does a cosigners auto insurance go up if the owner is late with payments in Maryland?
If your concerned about your friends or relatives late payments on their car note then I suspect that you are not just a co signor but are actually a co-buyer. If you are a co-buyer on the note then your credit score will certainly be affected by your co-buyers late payments and could also result in your insurance rates going up as well as increased interest rates on your credit cards and any other variable interest notes.
Do auto loan calculators accurately predict auto loan payments?
Auto loan calculators are not reliable. Although they can sometimes predict auto loan payments correctly, they are often inaccurate and can cause issues.
How far behind on a auto loan before they repo the auto?
3 payments
